Gramm–Latta Budget

E785690

United States federal budget budget reconciliation package landmark economic policy

The Gramm–Latta Budget was a landmark 1981 U.S. federal budget package that implemented President Ronald Reagan’s early economic agenda, featuring major tax cuts and reductions in domestic spending.

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All labels observed (2)

Label	Occurrences
Gramm–Latta Budget canonical	2
Gramm–Latta budget package	1

Statements (47)

Predicate	Object
instanceOf	United States federal budget ⓘ budget reconciliation package ⓘ landmark economic policy ⓘ
aimedAt	reducing growth of federal government ⓘ reducing inflation and unemployment through supply-side measures ⓘ stimulating economic growth ⓘ
appliesToJurisdiction	United States government ⓘ surface form: United States federal government
architect	Ronald Reagan NERFINISHED ⓘ
chronology	early Reagan administration ⓘ
country	United States of America ⓘ surface form: United States
describedAs	cornerstone of Reagan’s first-term economic program ⓘ
fiscalYear	Fiscal Year 1982 ⓘ
followedBy	subsequent Reagan-era budget packages ⓘ
hasEffect	contributed to federal budget deficits in the 1980s ⓘ increased defense spending trajectory ⓘ large projected federal revenue reductions ⓘ major federal income tax cuts ⓘ reductions in domestic discretionary spending ⓘ reductions in some social welfare programs ⓘ
hasPart	Economic Recovery Tax Act of 1981 NERFINISHED ⓘ Omnibus Budget Reconciliation Act of 1981 NERFINISHED ⓘ
implemented	across-the-board individual income tax rate cuts ⓘ business tax incentives ⓘ reductions in non-defense domestic programs ⓘ supply-side economic principles ⓘ
influenced	subsequent U.S. tax and budget debates in the 1980s ⓘ
legislativeBody	United States House of Representatives ⓘ United States Senate ⓘ
legislativeProcess	budget reconciliation ⓘ
locationOfLegislativeProcess	Washington, D.C. NERFINISHED ⓘ
namedAfter	Delbert Latta NERFINISHED ⓘ Phil Gramm NERFINISHED ⓘ
notableFeature	large, rapid tax reductions combined with spending cuts ⓘ shift in federal priorities toward defense and tax relief ⓘ
opposedBy	Democratic Party (United States) NERFINISHED ⓘ
partOf	Reaganomics NERFINISHED ⓘ
pointInTime	1981 ⓘ
policyArea	budgetary policy ⓘ fiscal policy ⓘ tax policy ⓘ
precededBy	Carter administration budgets ⓘ
proposedBy	Ronald Reagan NERFINISHED ⓘ
significantEvent	early legislative victory for Ronald Reagan ⓘ
sponsor	Delbert Latta NERFINISHED ⓘ Phil Gramm NERFINISHED ⓘ
supportedBy	Republican Party (United States) NERFINISHED ⓘ
timePeriod	Reagan Revolution NERFINISHED ⓘ

Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

97th United States Congress → enacted → Gramm–Latta Budget ⓘ

Omnibus Budget Reconciliation Act of 1981 → alsoKnownAs → Gramm–Latta Budget ⓘ

Omnibus Budget Reconciliation Act of 1981 → relatedTo → Gramm–Latta Budget ⓘ

this entity surface form: Gramm–Latta budget package